Brazils Vale signs long-term deal to supply Tesla with nickel

div classBodysc17zpet90 cdBBJodivpSAO PAULO Reuters – Brazilian miner Vale SA said on Friday it has signed a longterm deal with Tesla Inc to supply the U.S.based electric vehicle maker with nickel coming from its Canada operations.p

pVale did not provide financial details on the deal and did not say for how long it will last.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe Brazilian miner said in a securities filing that the agreement involves supplying Tesla with lowcarbon class 1 nickel and is in line with its strategy of increasing its exposure to the electric vehicle industry.

Vale said it aims for between 30 and 40 of its class 1 nickel sales to go to the fastgrowing sector.

pp Reporting by Gabriel Araujo Editing by Susan Fenton and Chizu Nomiyama

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